Former Governor Ibikunle Amosun has revealed that he was deceived into handing over a free trade facility in Ogun State to a Chinese investment group, escalating a legal battle that now threatens Nigeria’s assets abroad.
In a personal statement, Amosun, who served as governor of Ogun State from 2011 to 2019, admitted that he failed to thoroughly assess the situation before authorizing Zhongfu International Investment Ltd to take over the Ogun-Guandong Free Trade Zone in 2012. This decision initiated a prolonged legal conflict that has led disgruntled Chinese investors to target Nigeria’s assets in Europe and the United States.
The free trade zone was initially established in 2007 under Governor Gbenga Daniel, in partnership with Guangdong Xinguang International China Africa Investment Ltd (China Africa), with the goal of facilitating trade between Nigeria and China in Igbesa, Ogun State. China Africa, holding a 60% stake, was developing the 10,000-hectare facility when Zhongfu International Investment Ltd approached Amosun’s administration in 2012, claiming mismanagement of the zone and seeking control.
Amosun acknowledged that, based on the information available at the time, Zhongfu was appointed as interim zone managers to prevent further issues while investigations were conducted. However, it was later discovered that Zhongfu had provided false information to undermine China Africa, the legitimate manager.
Chinese authorities intervened, informing Amosun in 2016 that China Africa was the rightful owner. Following this revelation, Amosun’s administration removed Zhongfu, which then pursued legal action in Nigeria but lost all four cases.
Amosun urged the federal government and Ogun State to avoid any resolutions that could benefit Zhongfu, comparing the situation to the P&ID case. He emphasized that Zhongfu should not be entertained, as they lack legal standing.
Amosun has faced criticism for his role in Nigeria’s ongoing disputes with Chinese investors, which have escalated to international arbitration panels. Recently, a U.S. appellate panel authorized Zhongfu’s parent company, Zhongshan, to pursue the seizure of Nigeria’s assets in the U.S. following a $60 million judgment obtained in the U.K. in 2021.
